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What is a Target Market? A target market is a group of consumers or organizations most likely to buy a companyâs products or services. Because those buyers are likely to want or need a companyâs offerings, it makes the most sense for the company to focus its marketing efforts on reaching them. Marketing to these buyers is the most effective and efficient approach. The alternative - marketing to everyone - is inefficient and expensive. Finding Your Target Market
BREAKING DOWN 'Target Market'. Not all products and services are meant for all types of consumers. In fact, companies may tweak certain aspects of a product, such as the amount of sugar in a soft drink, so that it is more likely to be purchased by consumers with varying tastes.EFINITION of 'Target Market'. The consumers a company wants to sell its products and services to, and to whom it directs its marketing efforts. Identifying the target market is an essential step in the development of a marketing plan.